Clinical data analytics market to be valued at $614.7b by 2034

However, high subscription and licensing costs pose challenges to growth.

The clinical data analytics market is projected to reach $614.7b at a compounded annual growth rate of 39.7%, said Transparency Market Research.

The sector’s expansion is attributed to the rising prevalence of chronic diseases and the adoption of advanced technologies in healthcare.

“Cloud computing and AI-based analytics are pivotal in this transformation,” the report said.

However, high subscription and licensing costs pose challenges to market growth, impacting smaller healthcare organisations and slowing adoption in some regions.